IRSA(IRS) - 2023 Q1 - Earnings Call Presentation

Portfolio and Operating Performance - Shopping malls achieved a rental portfolio comprising 336,240 square meters of Gross Leasable Area (GLA) and a market share of 67% in Buenos Aires malls[3, 5, 11] - Office buildings maintained a rental portfolio of 82,700 square meters of GLA across 6 buildings[3, 5] - Hotels operated 79,000 square meters, alongside the Costa Urbana project encompassing 900,000 buildable square meters[6] - Shopping malls same-store sales grew by 21.9% in real terms[19] Revenue Model and Financial Structure - Shopping malls derived 74% of rental revenues linked to inflation, with 50% fixed and 24% variable components[15, 16] - Total gross debt stood at $461.1 million USD, with a Loan-to-Value (LTV) ratio of 12.2% and a Net Debt to EBITDA LTM of 1.3x[34, 35] Strategic Projects and Shareholder Returns - Costa Urbana project authorization includes 70 total hectares with approximately 900,000 buildable square meters, allocating 70% for public uses and 30% for development[25] - The company repurchased 9,419,623 ordinary shares, completing 99.51% of the share repurchase plan with an investment of 995.1 million ARS[39] - The annual shareholders' meeting approved a dividend distribution of 4,340 million ARS, representing approximately 4.5% dividend yield[40]